Cushing oil glut up close… Reuters…

I’m not sure Cushing, Oklahoma will ever make it into the book, “1,000 Places to Visit Before You Die”, but after reading this article, I’ll put it on my list:

http://www.reuters.com/article/us-usa-energy-cushing-idUSKCN0X20A9

Here are some takeaways:

““We are fuller than we have ever been,” Moeller (Manager at Enbridge) told Reuters.”

“To get timely estimates of Cushing’s storage levels, energy information provider Genscape flies twice a week a helicopter over the tanks with an infrared camera onboard.

It has registered some decreases in recent weeks, but Brian Busch, Genscape’s director of oil markets and former oil trader, calls it an operational variance.

“There’s no reason to unwind a hedge yet,” said Busch, adding the observations do not support yet some traders’ view that crude prices should start recovering soon.”